Currently, users may earn rewards in the form of miles, points, discounts, cashback, and gift cards. A user may have a plurality of rewards accounts, each with a different merchant, and each account may have different rules associated with it. For example, each reward program and/or software systems may only be associated with one merchant. As such, if a user signs up multiple reward programs at various merchant, the user would need to monitor different reward program software systems for each merchant. Therefore, it may be difficult for the user to keep track of the plurality of rewards accounts for various merchants.
Furthermore, existing rewards programs do not provide rich user interaction to keep the user engaged and motivated to earn rewards. Many users using existing rewards programs tend to be indifferent towards the rewards they've accumulated. In addition, with existing rewards programs, users are generally limited to viewing their own accumulated rewards. For example, users may not be able to view other users' accumulated rewards when they access their accounts page. Therefore, existing rewards programs have no useful and creative way to allow users to interact with rewards programs, interact with other users on the rewards programs, and track not only their progress in earning rewards, but other users' progress in earning rewards.
In view of the above deficiencies, there exists a need for improved systems and methods for providing enhanced rewards to users. Further, there exists a need for an improved rewards platform that encourages rich user interaction to keep the user engaged, informed, and motivated about their rewards. Additionally, there exists a need for improved systems and methods for providing enhanced rewards to users by incorporating social aspects to the rewards platform.
In the embodiments of the present disclosure, a user may be able to monitor multiple rewards accounts using a single software. In some embodiments, the user may be able to link a plurality of rewards account for various merchants with one profile so that the user can keep track of different rewards programs more easily. In addition, users may be able to interact with other users on the rewards platform, monitor other users' rewards on the rewards platform, and earn additional rewards for being a social user on the rewards platform. As such, a social platform may be provided on the software associated with the rewards programs in order to keep the user engaged and motivated about earning rewards. Such improved systems and methods have the potential to dramatically increase user engagement and loyalty, increase transactions and revenue for financial account providers, and increase retail sales at various merchants.